What are the responsibilities and job description for the Operations Associate, Settlements position at Tandym Group?
A financial services firm in New York City is currently seeking a new Operations Associate for a promising opportunity with their growing Settlements team. In this role, the Operations Associate will be responsible for managing all operation components of DTC / FED Settlements, Tri-party Repo, and / or Securities Lending, as well as driving regulatory, process and technology improvements.
Responsibilities :
The Operations Associate will :
Instruct, monitor, and settle buys / sells and repo trades for equities (DTC), government bonds (FED), mortgage backed securities, and physicals
Work with counterparties and depositories to instruct, monitor, and settle borrow, loan, and buy-in events through DTC and Loanet
Manage daily contract maintenance events, including mark-to-market, contract compare, rate changes, and recalls
Agree to and settle daily repo margin exposure with counterparties
Manage internal and external intra-day cash flows to support settlements
Reconcile internal accounts to external settlement depositories
Create and distribute various broker dealer regulatory reports such as Possession or Control, Short Interest, Customer Statements, and Fails
Collaborate with IT to identify and implement improvement opportunities that drive straight-through processing
Perform other duties, as needed Qualifications :
1 years of experience a Back Office (Clearing, Settlements, etc.), Financial, and / or Operations environment
Bachelor's Degree
Familiar with Financial Markets and instruments, specifically Equities and Fixed Income products
Prior experiences in DTC / FED Settlements, Tri-party Repo, and / or Securities Lending
Knowledge of basic Accounting principles and procedures
Solid understanding and experience driving straight-through processing (STP)
Microsoft Excel proficient (Formulas, V-lookups, Pivot Tables) and Data Analysis
Project Management skills
Solid analytical and problem solving skills
Great interpersonal skills
Excellent communication skills (written and verbal)
Strong attention to detail
highly organized
